Asian stocks opened mixed after gains on Wall Street weren't enough to offset a third monthly slide in the S&P 500.
Australian and South Korean shares edged higher while futures for Hong Kong slipped. Japanese stocks also rose. Contracts on the S&P 500 edged lower after the index rebounded in the final day of October, but still notched its worst monthly run since the onset of the pandemic.
The Bank of Japan loosened its grip on bond yields Tuesday, in a move that appeared to fall short of investors' hopes for a clearer sign of progress toward policy tightening.
Meanwhile, the yield on the 10-year U.S. bond was trading at 4.92% and Bitcoin was above 34,000-level. Brent crude was trading above $87 a barrel, whereas WTI Crude was above $81-mark.
At 5:50 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index's performance in India was down 58 points of 0.30% at 19,105.
Indian stock benchmarks snapped two days of gains on Tuesday as investors are looking forward to the key interest rate decision of the U.S. Federal Reserve a day later.
During the day, the Sensex fell as much as 300.12 points, or 0.47%, to 63,812.53, while the Nifty declined 84.45 points, or 0.44%, to 19,056.45.
Overseas investors remained net sellers of Indian equities for the fifth day in a row. Foreign portfolio investors offloaded stocks worth Rs 696.02 crore, while domestic institutional investors mopped up equities worth Rs 340.25 crore, according to provisional data from the NSE.
The Indian rupee closed at Rs 83.26 against the U.S. dollar on Tuesday.
Earnings Post Market Hours
Aether Industries Q2 FY24 (Consolidated, YoY)
Revenue is up 17.1% at Rs 164.2 crore vs. Rs 140.2 crore (Bloomberg estimate: Rs 173 crore).
Ebitda up 24.7% at Rs 46 crore vs. Rs 36.9 crore (Bloomberg estimate: Rs 51.2 crore).
Margin at 28% vs. 26.3% (Bloomberg estimate: 29.8%)
Reported profit is up 34.8% at Rs 36.7 crore vs. Rs 27.2 crore (Bloomberg estimate: Rs 32.2 crore).
Motherson Sumi Wiring Q2 FY24 (YoY)
Revenue is up 14.7% at Rs 2,105 crore vs. Rs 1,835 crore (Bloomberg estimate: Rs 2,019.4 crore).
Ebitda up 37.2% at Rs 248.1 crore vs. Rs 180.8 crore (Bloomberg estimate: Rs 258.6 crore).
Margin at 11.8% vs. 9.9%, up 193 bps (Bloomberg estimate: 12.8%).
Reported profit is up 33.9% at Rs 156 crore vs. Rs 116 crore (Bloomberg estimate: Rs 166.6 crore).
C.E. Info Systems Q2 FY24 (Consolidated, QoQ)
Revenue is up 1.9% at Rs 91.1 crore vs. Rs 89.4 crore (Bloomberg estimate: Rs 96.63 crore).
EBIT is up 8.7% at Rs 37 crore vs. Rs 34.3 crore (Bloomberg estimate: Rs 39.7 crore).
Margin at 40.9% vs. 38.32% (Bloomberg estimate: 41.1%)
Net profit is up 3.4% at Rs 33.1 crore vs. Rs 32 crore (Bloomberg estimate: Rs 35.95 crore).
Five-Star Business Finance Q2 FY24 (YoY)
Total income is up 43.9% at Rs 518.8 crore vs. Rs 360.5 crore.
Reported profit is up 38.3% at Rs 199.4 crore vs. Rs 144.2 crore (Bloomberg estimate: Rs 104.35 crore).
Navin Flourine Q2 FY24 (Consolidated, YoY)
Revenue is up 12.5% at Rs 472 crore vs. Rs 419 crore (Bloomberg estimate: Rs 525.3 crore).
Ebitda up 4.8% at Rs 98 crore vs. Rs 94 crore (Bloomberg estimate: Rs 126.46 crore).
Margin at 20.8% vs. 22.4%, down 153 bps (Bloomberg estimate: 24.1%).
Reported profit is up 4.8% at Rs 60.6 crore vs. Rs 57.8 crore (Bloomberg estimate: Rs 68.4 crore).
Adani Total Gas Q2 FY24 (Consolidated, QoQ)
Revenue is up 3.8% at Rs 1,095.6 crore vs. Rs 1,056.1 crore.
Ebitda up 13% at Rs 279.9 crore vs. Rs 247.7 crore.
Margin at 25.6% vs. 23.5%, up 209 bps
Reported profit is up 15% at Rs 172.7 crore vs. Rs 150.2 crore.
Thyrocare Technologies Q2 FY24 (Consolidated, YoY)
Revenue is up 9.7% at Rs 148 crore vs. Rs 135 crore (Bloomberg estimate: Rs 146.57 crore).
Ebitda up 19% at Rs 37.5 crore vs. Rs 31.6 crore (Bloomberg estimate: Rs 40.8 crore).
Margin at 25.4% vs. 23.4%, up 195 bps (Bloomberg estimate: 27.8%).
Reported profit is up 31.8% at Rs 20.3 crore vs. Rs 15.4 crore (Bloomberg estimate: Rs 24.77 crore).
Nuvoco Vistas Q2 FY24 (Consolidated, YoY)
Revenue is up 7.2% at Rs 2,573 crore vs. Rs 2,401 crore (Bloomberg estimate: Rs 2,531.26 crore).
Ebitda up 71.8% at Rs 330 crore vs. Rs 192 crore (Bloomberg estimate: Rs 350.21 crore).
Margin at 12.8% vs. 7.9%, up 482 bps (Bloomberg estimate: 13.8%).
Reported profit of Rs 1.5 crore vs. reported loss of Rs 130.4 crore (Bloomberg estimate: net loss of Rs 23.77 crore)
Note: The company reported an exceptional loss of Rs 169.8 crore in Q1 FY23.
Bharti Airtel Q2 FY24 (Consolidated, QoQ)
Revenue is down 1.1% at Rs 37,044 crore vs. Rs 37,440 crore (Bloomberg Estimate: Rs 38,096.89 crore).
Ebitda down 0.4% at Rs 19,514 crore vs. Rs 19,599 crore (Bloomberg estimate: Rs 19,916.3 crore).
Margin at 52.7% vs. 52.3%, up 33 bps
Reported profit was up 37.7% at Rs 2,093.2 crore vs. Rs 1,520.2 crore (Bloomberg estimate: Rs 3,205.17 crore).
ARPU at Rs 203 vs. Rs 190 YoY.
Note: One-time loss in Q2 at Rs 1,570.3 crore.
DCB Bank Q2 FY24
NII at Rs 475.7 crore vs. Rs 411.1 crore, up 16% year over year.
Net profit is at Rs 126.8 crore vs. Rs 112.4 crore, up 13% year over year.
Gross NPA at 3.36% vs. 3.26% (QoQ)
Net NPA at 1.28% vs. 1.19% (QoQ)
Geojit Financial Services Q2 FY24 (YoY)
Total income is up 28.3% at Rs 143.9 crore vs. Rs 112.2 crore.
Reported profit was up 57.7% at Rs 37.5 crore vs. Rs 23.9 crore.
Jindal Steel and Power Q2 FY24 (Consolidated, YoY)
Revenue is down 9.4% at Rs 12,250.2 crore vs. Rs 13,521.4 crore (Bloomberg estimate: Rs 12,585.4 crore).
Ebitda up 18.35% at Rs 2,285.7 crore vs. Rs 1,931.4 crore (Bloomberg estimate: Rs 2,364.8 crore).
Ebitda margin at 18.66% vs. 14.28% (Bloomberg estimate: 18.8%).
Reported profit is up 6.34 times at Rs 1,390.1 crore vs. Rs 219.3 crore (Bloomberg estimate: Rs 1,078.7 crore).
Max Financial Q2 FY24 (Consolidated, YoY)
Revenue is up 9.1% at Rs 10,165 crore vs. Rs 9,316 crore.
Reported profit is up 176% at Rs 170 crore vs. Rs 61.6 crore (Bloomberg estimate: Rs 262.35 crore).
Mankind Pharma Q2 FY24 (Consolidated, YoY)
Revenue is up 11.6% at Rs 2,708 crore vs. Rs 2,426 crore (Bloomberg estimate: Rs 2,699.18 crore).
Ebitda up 15.6% at Rs 683 crore vs. Rs 591 crore (Bloomberg estimate: Rs 695 crore).
Margin at 25.2% vs. 24.4%, up 85 bps (Bloomberg estimate: 25.7%).
Reported profit is up 21% at Rs 511 crore vs. Rs 423 crore (Bloomberg estimate: Rs 506.53 crore).
Amara Raja Energy and Mobility Q2 FY24 (Consolidated, YoY)
Revenue is up 9.6% at Rs 2,959 crore vs. Rs 2,700 crore (Bloomberg estimate: Rs 2861 crore).
Ebitda up 12.2% at Rs 402 crore vs. Rs 359 crore (Bloomberg estimate: Rs 380.6 crore).
Margin at 13.6% vs. 13.3%, up 31 bps (Bloomberg estimate: 13.3%).
Reported profit is up 12.5% at Rs 226.3 crore vs. Rs 201.2 crore (Bloomberg estimate: Rs 220.2 crore).
Star Health Q2 FY24 (YoY)
Total income is up 15% at Rs 3,357 crore vs. Rs 2,918 crore.
Reported profit was up 34.6% at Rs 125 crore vs. Rs 93 crore.
Birlasoft Q2 FY24 (Consolidated, QoQ)
Revenue is up 3.73% at Rs 1,309.8 crore vs. Rs 1,262.7 crore (Bloomberg estimate: Rs 1,290.84 crore).
EBIT is up 8.09% at Rs 185.64 crore vs. Rs 171.74 crore (estimate: Rs 174.04 crore).
Margin at 14.17% vs. 13.60% (estimate: 13.48%)
Net profit is up 5.47% at Rs 145.07 crore vs. Rs 137.74 crore (estimate: Rs 136.70 crore).
KEI Industries Q2 FY24 (Consolidated, YoY)
Revenue is up 21% at Rs 1,947 crore vs. Rs 1,608 crore (Bloomberg estimate: Rs 1863.4 crore).
Ebitda up 27% at Rs 204 crore vs. Rs 161 crore (Bloomberg estimate: Rs 193.15 crore).
Margin at 10.5% vs. 9.9%, up 48 bps (Bloomberg estimate: 10.4%).
Reported profit is up 31.2% at Rs 140.2 crore vs. Rs 106.9 crore (Bloomberg estimate: Rs 131.03 crore).
Mangalore Refinery and Petrochemicals Q2 FY24 (Consolidated, QoQ)
Revenue is down 8% to Rs 19,230 crore vs. Rs 21,173 crore.
Ebitda up 3.4% at Rs 2,138 crore vs. Rs 2,068 crore.
Margin at 11.1% vs. 9.8%, up 135 bps
Reported profit was up 3.6% to Rs 1,052 crore vs. Rs 1,015 crore.
L&T Q2 FY24 (Consolidated, YoY)
Revenue is up 19.3% at Rs 51,024 crore vs. Rs 42,763 crore (Bloomberg estimate: Rs 50,670.08 crore).
Ebitda up 15.1% at Rs 5,632 crore vs. Rs 4,894 crore (Bloomberg estimate: Rs 5,449.81 crore).
Margin at 11% vs. 11.4%, down 40 bps (Bloomberg estimate: 10.8%).
Reported profit was up 36.8% at Rs 3,856 crore vs. Rs 2,819 crore (Bloomberg estimate: Rs 2,725.44 crore).
Care Ratings Q2 FY24 (Consolidated, YoY)
Total income is up 15.4% at Rs 108 crore vs. Rs 93 crore.
Reported profit is up 2.5% at Rs 35.7 crore vs. Rs 34.8 crore (Bloomberg estimate: Rs 44.9 crore).
Tata Consumer Q2 FY24 (Consolidated, YoY)
Revenue is up 11% at Rs 3,734 crore vs. Rs 3,363 crore (Bloomberg estimate: Rs 3716.04 crore).
Ebitda up 24% at Rs 537 crore vs. Rs 434 crore (Bloomberg estimate: Rs 523.68 crore).
Margin at 14.4% vs. 12.9%, up 148 bps (Bloomberg estimate: 14.10%)
Reported profit is down 6.6% to Rs 364 crore vs. Rs 389 crore (Bloomberg estimate: Rs 331.53 crore).
Kaynes Technology Q2 FY24 (Consolidated, QoQ)
Revenue is up 32% at Rs 361 crore vs. Rs 273 crore.
Ebitda up 13% at Rs 48.7 crore vs. Rs 43.1 crore.
Margin at 13.5% vs. 15.8%, down 228 bps
Reported profit was up 53.8% at Rs 32.3 crore vs. Rs 21 crore.
Reliance Power Q2 FY24 (Consolidated, YoY)
Revenue is up 10% at Rs 2,052 crore vs. Rs 1,864 crore.
Ebitda up 29.5% at Rs 735 crore vs. Rs 568 crore.
Margin at 35.8% vs. 30.5%, up 535 bps
Reported loss of Rs 238 crore vs. reported loss of Rs 340 crore
Gravita India Q2 FY24 (Consolidated, YoY)
Revenue is up 22.5% at Rs 836 crore vs. Rs 683 crore.
Ebitda up 23.7% at Rs 72.6 crore vs. Rs 58.7 crore.
Margin at 8.7% vs. 8.6%, up 8 bps
Reported profit was up 30.8% to Rs 58.8 crore vs. Rs 45 crore.
Dhampur Sugar Mills Q2 FY24 (Consolidated, YoY)
Revenue is down 9.6% to Rs 459 crore vs. Rs 541 crore.
Ebitda down 28.8% at Rs 22.1 crore vs. Rs 31 crore.
Margin at 4.8% vs. 5.7%, down 91 bps
Reported profit is down 53% to Rs 5.43 crore vs. Rs 11.54 crore.
Zee Media Corp. Q2 FY24 (Consolidated, YoY)
Revenue is down 22.2% at Rs 152 crore vs. Rs 195 crore.
Ebitda loss at Rs 20.2 crore vs. Ebitda of Rs 20.4 crore
Reported loss of Rs 30.7 crore vs. reported loss of Rs 12.1 crore
Balu Forge Industries Q2 FY24 (Consolidated, YoY)
Revenue was up 2.3 times to Rs 139.2 crore vs. Rs 60.6 crore.
Ebitda up 720.4% at Rs 30.1 crore vs. Rs 3.7 crore.
Margin at 21.6% vs. 6.1%, up 1,556 bps
Reported profit is up 383% at Rs 23.3 crore vs. Rs 4.8 crore.
ADF Foods Q2 FY24 (Consolidated, YoY)
Revenue is up 16.8% at Rs 125 crore vs. Rs 107 crore.
Ebitda up 10.7% at Rs 26.9 crore vs. Rs 24.3 crore.
Margin at 21.6% vs. 22.8%, down 117 bps
Reported profit was up 9.8% at Rs 14.9 crore vs. Rs 13.6 crore.
Paradeep Phosphates Q2 Cons YoY
Revenue up 28.6% at Rs 3683 crore vs Rs 2864 crore
Ebitda up 41% at Rs 256 crore vs Rs 181 crore
Margin at 6.9% vs 6.3% up 61 bps
Reported profit up 75% at Rs 89.4 crore vs Rs 51.1 crore
Earnings In Focus
Sun Pharmaceutical, Tata Steel, Britannia Industries, Godrej Consumer Products, Ambuja Cements, REC, Hero MotorCorp, Adani Wilmar, Indraprastha Gas, Kansai Nerolac Paints, LIC Housing Finance, Relaxo Footwears, KEC International, Gujarat Mineral Development Corporation, Cera Sanitaryware, Triveni Turbine, Safari Industries, Maharashtra Seamless, Responsive Industries, Gujarat Ambuja Exports, JK Tyre, Jubliant Ingrevia, India Cements, Thomas Cook (India), MAS Financial Industries, Greenpanel Industries, Rattanindia Power, Thangamayal Jewellery, Nilkamal, Unichem Laboratories, Savata Oil Technologies, Fino Payments Bank, Arman Financial Services, Jindal Drilling & Industries, Aptech, Arvind Smartspaces, Steelcast, Ajmera Realty & Infra India, TV Today Network, Orient Green Power.
Stocks To Watch: Bharti Airtel, L&T, Sun Pharma, Tata Steel, ITC, Adani Ports, Lupin, Tata Consumer, NBCC In Focus
SBI: Deputy Managing Director and Chief Risk Officer Sureddi Srinivasa Rao to superannuate from his services at the close of business hours on Oct. 31. Rama Mohan Rao Amara will be entrusted as ‘Deputy Managing Director and Chief Risk Officer' and will assume charge on Nov. 1.
ITC: The company acquired 2296 equity shares of Rs 10 each of Delectable Technologies. post-acquisition shareholding in the company now stands at 39.32%.
Lupin: The company received an EIR from the U.S. FDA for the Mandideep Unit-2 manufacturing facility. The inspection closed with the facility receiving the classification 'No Action Indicated'.
Tata Consumers: The company will merge three subsidiaries—NourishCo Beverages, Tata SmartFoodz, and Tata Consumer Soulfull Private—with itself. L. Krishnakumar, the Executive Director and Group CFO, resigned effective the close of business hours on Oct. 31, 2023. Navaneel Kar, President and Head of India Sales, submits his resignation w.e.f. Nov. 17. Current Senior CP of Strategy and M&A Punit Gupta to assume the role of Head of Sales India
GMM Pfaudler: Acquisition of Mixpro delayed by a month to Nov. 30.
SBI Cards: Company and Reliance Retail to roll out Reliance SBI Cards. Cardholders to benefit from Reliance Retail's presence and large portfolio of brands and SBI Card's value propositions and offers
Mahanagar Gas: M. V. Iyer has ceased to be the Director and Chairman of the Company, w.e.f. Oct. 31. The board appoints Sandeep Kumar Gupta as Non-Executive Non-Independent Director, designated as Chairman of the Company, with immediate effect.
Bharti Airtel: The Department of Tax imposes a penalty of Rs 1.72 lakh for alleged violations of subscriber verification norms. The board approved the appointment of Douglas Anderson Baille as additional director, w.e.f Oct. 31, for a term of five years.
Zee Media: Company to strike off Zee Media Americas LLC, the entity formed by the company to be the wholly owned subsidiary of the company, in the State of Delaware, USA.
Zydus Lifesciences: Parties that entered the Sale and Purchase Agreement previously approved by the board have executed the SPA.
Newgen Software Technologies: The company received a purchase order for the supply, implementation and maintenance of trade finance and supply chain finance solutions. The aggregate value stands at Rs 18 crore, and the order is valid for five years.
Mankind Pharma: The board approves a scheme of amalgamation between Shree Jee Laboratory, JPR Labs and Jaspack Industries, wholly owned subsidiaries of the company, with the company and their respective shareholders and creditors, subject to requisite approvals and consents.
JSW Energy: Prashant Jain to step down from the position of Joint Managing Director and CEO and Key Managerial Person of the company. Jain will serve his current position till Jan. 31, 2024.
Zaggle Prepaid Ocean Services: The company entered into a co-brand agreement with Kotak Mahindra Bank for a period of three years. The broad consideration of the order stands at Rs 76 crore in three years, by conservative estimates. The company also entered into an agreement with Tobisha Software India for a duration of 36 months for a contract consideration of Rs 56.8 lakh.
Krishna Institute of Medical Sciences: The company made further investment by acquiring an additional equity stake of 6.86% in SPANV Medisearch Lifesciences, a subsidiary company, bringing the company's total shareholding to 69.30%. Shares were acquired at Rs 221.99 apiece at a total acquisition cost of Rs 26.63 crore.
Syngene International: Chief Operating Officer Mahesh Bhalgat resigned to pursue another opportunity. Resignation is effective from closing business hours on January 31, 2024.
Blue Dart Express: Anil Kanojia, Head of Security, tendered his resignation and will be relieved of responsibilities w.e.f Jan. 31, 2024.
Cantabil Retail India: The company has opened 16 new showrooms and shops at different locations in India in the month of October. The total number of shops now stands at 498.
Tejas Networks: The company received government approval to appoint Anand S. Athreya as Executive Director (Managing Director and CEO Designate) from April 21, 2023 to June 20, 2023 and as Managing Director and CEO from June 21, 2023 to April 20, 2028.
Ethos: The company approved the floor price for its preliminary placement at Rs. 1,627.49 per equity share. The company may offer a discount of not more than 5% on the floor price, as calculated for the issue.
Amara Raja: The company declared an interim dividend of Rs 4.8 per equity share for FY24. The company also invested Rs 500 crore in tranches into its newly incorporated, wholly owned subsidiary, Amara Raja Advanced Cell Technologies.
Adani Ports and SEZ: The company's wholly owned subsidiary, Adani Logistics, subscribed to a 50% stake in Veracity Supply Chain Private, which was incorporated on Oct. 31, 2023. VSCPL was incorporated to provide last-mile connectivity to customers from ICDs powered by a digital transport management system. The cost of acquisition stood at Rs 5 lakhs.
Inox Wind Energy: The company successfully raised Rs 800 crore via the sale of shares of Inox Winds via block deals on stock exchanges. The transaction witnessed strong participation from long-only domestic and foreign institutional investors. It reduced its stake in Inox Wind to 38.4% from 50.2% earlier.
Birlasoft: The company approves an interim dividend of Rs 2.5 per share with a face value of Rs 2 each for FY24. The company also appointed Satyavati Berera as an independent director, not liable to retire by rotation. The appointment is for a period of five years, effective Oct. 31, 2023.
CSB Bank: The company entered into an agreement with Oracle Financial Services Software for the procurement of the new Core Banking Solution (CBS) for the bank.
GR Infraprojects: The company entered into a share purchase agreement with Aadharshila Infratech for the transfer of 21% of the equity shares being held by it to its wholly owned subsidiary, namely Nagaur Mukundgarh Highways Private Limited. NMHPL would cease to be a wholly owned subsidiary of the company.
Power Mech: The company received an award worth Rs 355 crore from Bharat Heavy Electricals. Order related to erection, commissioning and trial at the BHEU client's stores or storage yard, transportation to the site and handing over of the boiler and its auxiliaries, power cycle piping, and steam turbine generators of units 1 and 2 at 2x660 MW NTPC, Talcher, Odisha.
Vardhaman Textiles: Yarn Production in Q2 at 53564 metric tonnes vs. 63406 the previous quarter. Grey fabric production stood at 469 lakh metres vs. 430 in Q1.
Oil India: Ajit Chandra Haloi, Executive Director, to superannuate from services on the closure of working hours on Oct. 31.
Larsen and Toubro: Company to incorporate fabless semiconductor chip arm with Rs 830 crore investment The order book at the end of Q2 stood at Rs 4.51 lakh crore, up 21% YoY. The company appoints Ajay Tyagi as an independent director for five years.
Oberoi Realty: The company's wholly owned subsidiary, Sight Realty, executed a SPA and divested its entire 33% stake in JV Metropark Infratech and Realty Developments for a consideration of Rs 55.19 lakh. The buyer, Dipak Sharma, is an existing shareholder of the JV.
NBCC: The company gets two orders worth Rs 100.79 crore. Order received for LED Flood Light in Dampa Tiger Reserve Forest in Mizoram for Rs 60.79 crore and order for construction of phase A and B works for JNV Khagariya in Bihar for Rs 40 crore.
Aster DM Healthcare: Aster DM Healthcare (Trivandrum), a wholly owned subsidiary of the company, launched Whitefield Hospital, a 506-bed multispecialty hospital at Whitefield, Bengaluru, on Oct. 31. The new hospital will offer Aster's Centres of Excellence in Oncology, Cardiac Sciences, Neurosciences, Astroenterology, Women and Child Care, and more.
United Spirits: A board-approved multi-year supply chain agility programme is expected to strengthen the end-to-end supply chain, thereby making it fit for the future. As a result, the company has closed factory operations at its manufacturing unit located in Rosa, UP.
KEI Industries: The company has invested approx. Rs 30 crore in phase 1 for capacity addition of LT Power Cable at Silvasa Plant.
360 One Wam: The company incorporates a wholly owned subsidiary, ‘360 ONE Alternates Asset Management Limited, on Oct. 31.
Dhampur Sugar Mills: The company withdraws a writ petition filed by the UP Sugar Mill Association that created a financial liability of Rs 18 crore for the company.
IPO Offerings
Cello World: The IPO was subscribed to 1.44 times on its second day. The bids were led by non-institutional investors (4.35 times), retail investors (1.04 times), and institutional investors (0.05%).
Honasa Cosnumers: The IPO was subscribed to 0.12 times, or 12%, on its first day. The bids were led by retail investors (0.34 times or 34%), institutional investors (0.10 times or 10%), and non-institutional investors (0.03 times or 3%).
New Listing
Blue Jet Healthcare: The shares will be listed on the stock exchanges on Wednesday. The issue price is Rs 346 apiece. The Rs 840.3 crore IPO was subscribed to 7.94 times on its final day. Bids were led by institutional investors (13.72 times), non-institutional investors (13.59 times), and retail investors (2.22 times).
Block Deals
Bajaj Finserv: Bajaj Sevashram bought 5.35 lakh shares (0.03%) and Niraj Bajaj sold 5.35 lakh shares (0.03%) at Rs 1,570 a piece.
Bulk Deals
Inox Wind: Inox Wind Energy sold 3.84 crore shares (11.76%) at Rs 210 a piece, while Small Cap World Fund bought 74.51 lakh shares (2.28%) at Rs 212 a piece, ICICI Prudential Mutual Fund bought 24.07 lakh shares (0.73%), East Bridge Capital Master Fund bought 47.85 lakh shares (1.46%), and BNP Paribas bought 23.92 lakh shares (0.73%) at Rs 209 a piece.
Insider Trades
Jindal Stainless: Promoter Group JSL Overseas bought 19,500 shares on Oct. 30.
Som Distilleries: Promoter Deepak Arora bought 9,000 shares on Oct. 30.
Pledge Share Details
IndusInd Bank: Promoter IndusInd revoked pledge of 21.43 lakh shares on Oct. 31.
Who's Meeting Whom
Adani Ports and SEZ: To meet analysts and investors on Nov. 9.
Harsha Engineers: To meet analysts and investors on Nov. 7.
Ramco Systems: To meet analysts and investors on Nov. 3.
Ramco Engineers: To meet analysts and investors on Nov. 6.
Lupin: To meet analysts and investors on Nov. 9.
PolyMedicure: To meet analysts and investors on Nov. 6.
Insecticides: To meet analysts and investors on Nov. 3.
JSW Infrastructure: To meet analysts and investors on Nov. 4.
Ester Industries: To meet analysts and investors on Nov. 9.
AIA Engineering: To meet analysts and investors on Nov. 6.
Petronet LNG: To meet analysts and investors on Nov. 3.
Vardhman Special Steels: To meet analysts and investors on Nov. 8.
Gujarat Fluorochemicals: To meet analysts and investors on Nov. 3.
Kirloskar Ferrous Industries: To meet analysts and investors on Nov. 6.
Hero Motorcorp: To meet analysts and investors on Nov. 6.
Quess Copr: To meet analysts and investors on Nov. 7.
Bharat Forge: To meet analysts and investors on Nov. 6.
Sadhana Nitro Chem: To meet analysts and investors on Nov. 3.
Five Star Business Finance: To meet analysts and investors on Nov. 2, 3.
Pitti Engineering: To meet analysts and investors on Nov. 13.
Orient Electric: To meet analysts and investors on Nov. 3.
Deep Industries: To meet analysts and investors on Nov. 3.
AU Small Finance: To meet analysts and investors on Nov. 3.
Sheela Foam: To meet analysts and investors on Nov. 3.
F&O Cues
Nifty November futures fell 0.29% to 19165, at a premium of 85.4 points.
Nifty November futures open interest rose by 4.56% to 9,962 shares.
Nifty Bank November futures fell 0.56% to 43055, at a premium of 209.05 points.
Nifty Bank November futures open interest increased by 1.23% by 2042 shares.
Nifty Options Nov 2 Expiry: Maximum call open interest at 19200 and maximum put open interest at 19000
Nifty Bank Options Nov 1 Expiry: Maximum call open interest at 43500 and maximum put open interest at 41500.
Securities in the bad period: GNFC
Money Market Update
The Indian rupee closed at Rs 83.26 against the U.S dollar on Tuesday.
Disclaimer: AMG Media Networks Ltd. (AMNL) currently owns 49% stake in Quintillion Business Media Ltd. (QBML), the owner of BQ Prime Brand. AMNL has entered into an MOU to acquire the balance 51% stake in QBML. Post acquisition, QBML will become a wholly owned subsidiary of AMNL.
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